The rise in vacancy rates in the industrial sector amid slowing demand and the wave of new supply, which will come to market over the next year, is the key macro trend for 2024, according to a new report from Cushman & Wakefield.
"The industrial market has seen its fundamentals shift over the past year as we have registered record new supply, moderating absorption totals, and climbing vacancy rates across many markets," Jason Price, Senior Director, Americas Head of Logistics & Industrial Research, Global Research, US, Cushman & Wakefield, said in a company forecast video.
The trend stands out to Price mostly because the continued upward trajectory of vacancy rates should have occupiers finding a slightly easier market to navigate for the short term, coming off those record lows achieved in 2022, he said.
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